5 Best Energy Stocks to Buy Now

In this article, we discuss the 5 best energy stocks to buy now. If you want to read our detailed analysis, the risk/reward, and methodology of this list, go directly to the 10 Best Energy Stocks to Buy Now.

5. Chevron Corporation (NYSE:CVX)

No. of Hedge Fund Holders: 59

Chevron Corporation (NYSE:CVX) is an energy corporation active in more than 180 countries. It produces and markets a variety of high-quality refined products, such as gasoline, diesel, marine, and aviation fuels, finished lubricants, and fuel oil additives. About 11,000 oil and gas wells in the Permian Basin are operated by the company in the United States.

Given its scale, Chevron Corporation (NYSE:CVX) has been consistently profitable despite economic challenges. As a result of its profitability, the company has a strong dividend history and has raised its dividend every year for the last 35 years. As of September 8, the company also has a dividend yield of 3.28% and pays a quarterly dividend of $1.42 per share.

Many hedge funds like the stock. According to the second quarter database of Insider Monkey, 59 hedge funds were bullish on Chevron Corporation (NYSE:CVX), with combined stakes worth about $26 billion. Berkshire Hathaway is the biggest stakeholder of Chevron Corporation (NYSE:CVX) as of the second quarter of 2022, with more than 161 million shares worth more than $23 billion.